The annual inflation rate in Norway decreased to 3.1 percent in March of 2021 from 3.3 percent in the previous month, and below market forecasts of 3.5 percent. The country remained under lockdown during most part of the month due to the coronavirus pandemic. Prices rose softer for both transports (2.0 percent vs 2.1 percent in February) and housing and utilities (5.7 percent vs 6.4 percent), while food and beverages prices fell (-0.3 percent vs 0.1 percent). Prices continued to increase for furnishing, household equipment and routine maintenance (7.6 vs 7 percent), recreation and culture (4.4 percent vs 3.4 percent). Meantime, prices of clothing dropped (-2.0 percent vs 0.3 percent), while those of alcoholic beverages and tobacco continued to decline (-1.6 percent vs -1.8 percent). On a monthly basis, consumer prices were down 03 percent, reversing from a 0.7 percent rise in February. source: Statistics Norway

Inflation Rate in Norway averaged 4.51 percent from 1950 until 2021, reaching an all time high of 18.90 percent in June of 1951 and a record low of -1.80 percent in January of 2004. This page provides - Norway Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Norway Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.

Inflation Rate in Norway is expected to be 3.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Norway to stand at 2.60 in 12 months time. In the long-term, the Norway Inflation Rate is projected to trend around 1.90 percent in 2022 and 2.00 percent in 2023, according to our econometric models.

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Norway Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
3.10 3.30 18.90 -1.80 1950 - 2021 percent Monthly
2015=100


Calendar GMT Actual Previous Consensus TEForecast
2021-01-11 07:00 AM Dec 1.4% 0.7% 1.2% 1.2%
2021-02-10 07:00 AM Jan 2.5% 1.4% 1.7% 1.8%
2021-03-10 07:00 AM Feb 3.3% 2.5% 3% 3.1%
2021-04-09 06:00 AM Mar 3.1% 3.3% 3.5% 3.1%
2021-05-10 06:00 AM Apr 3.1% 3% 3.2%
2021-06-10 06:00 AM May
2021-07-09 06:00 AM Jun
2021-08-10 06:00 AM Jul


News Stream
Norway Inflation Rate Eases to 3.1% in March
The annual inflation rate in Norway decreased to 3.1 percent in March of 2021 from 3.3 percent in the previous month, and below market forecasts of 3.5 percent. The country remained under lockdown during most part of the month due to the coronavirus pandemic. Prices rose softer for both transports (2.0 percent vs 2.1 percent in February) and housing and utilities (5.7 percent vs 6.4 percent), while food and beverages prices fell (-0.3 percent vs 0.1 percent). Prices continued to increase for furnishing, household equipment and routine maintenance (7.6 vs 7 percent), recreation and culture (4.4 percent vs 3.4 percent). Meantime, prices of clothing dropped (-2.0 percent vs 0.3 percent), while those of alcoholic beverages and tobacco continued to decline (-1.6 percent vs -1.8 percent). On a monthly basis, consumer prices were down 03 percent, reversing from a 0.7 percent rise in February.
2021-04-09
Norway Inflation Rate Highest in Over 2 Years
The annual inflation rate in Norway increased to 3.3 percent in February of 2021 from 2.5 percent in January, reaching the highest since December of 2018 and above market forecasts of 3 percent. The country remained under lockdown during most part of the month due to the coronavirus pandemic. Cost of furnishing, household equipment and routine maintenance showed the biggest increase (7 percent), followed by housing and utilities (6.4 percent) and recreation and culture (3.4 percent). In contrast, cost of alcoholic beverages and tobacco recorded the only decline (-1.8 percent). On a monthly basis, consumer prices were up 0.7 percent.
2021-03-10
Norway Inflation Rate Rises to 20-Month High
Norway's annual inflation rate increased to 2.5 percent in January of 2021, the most since May 2019, from 1.4 percent in December 2020 and beating market expectations of 1.7 percent. Housing & utilities prices rebounded sharply (3.8 percent vs -2.5 percent in December) while those of transport advanced faster (1.2 percent vs 1.1 percent). Meantime, prices continued to increase for food & non-alcoholic beverages (0.7 percent vs 2.8 percent), furnishings, household equipment & routine maintenance (6.2 percent vs 8.0 percent) and recreation & culture (3.5 percent vs 3.8 percent). The CPI adjusted for tax changes and excluding energy products dropped to a 10-month low of 2.7 percent in January from 3.0 percent in December, but beating market expectations of a 2.4 percent growth. On a monthly basis, consumer prices were up 1.1 percent, while the core index inched up 0.1 percent.
2021-02-10
Norway Inflation Rate Rises More than Estimated
Norway's annual inflation rate increased to 1.4 percent in December 2020 from 0.7 percent in the previous month and beating market expectations of 1.2 percent. Prices rose faster for: transport (1.1 percent vs 0.1 percent in November), furnishings, household equipment & routine maintenance (8.0 percent vs 7.1 percent) and recreation & culture (3.8 percent vs 3.6 percent). Meanwhile food & non-alcoholic beverages inflation eased to a five-month low of 2.8 percent in December from 3.5 percent in November. In addition, prices of housing & utilities dropped softer (-2.5 percent vs -4.6 percent). The CPI adjusted for tax changes and excluding energy products increased to 3.0 percent in December from a seven-month low of 2.9 percent in November, but below market expectations of a 3.1 percent growth. On a monthly basis, consumer prices were up 0.4 percent, while the core index edged down 0.1 percent.
2021-01-11

Norway Inflation Rate
In Norway, the most important category in the consumer price index is Housing and Utilities (23 percent of total weight). Transport accounts for 16 percent; Food and Non-Alcoholic Beverages for 13 percent; Recreation and Culture for 12 percent; Miscellaneous Goods and Services for 9 percent and Furniture, Household Goods and Maintenance for 7 percent. Restaurants and Hotels; Clothing and Footwear; Alcoholic beverages and Tobacco; Health; Communication and Education account for the remaining 21 percent of total weight.